Rent Reserve. Report........................................................................................................
Rent Reserve the aggregate of (a) all past due rent and other past due charges owing by any Borrower to any landlord or other Person who possesses any Collateral or has the right to assert a Lien on any Collateral; plus (b) a reserve in an amount not to exceed rent and other charges that the Agent determines, in its Permitted Discretion (but in any event, not more than three months’ rent), could reasonably be expected to be payable to any such Person for the time period used to determine and realize the Net Orderly Liquidation Value of Collateral.
Rent Reserve. The Borrower shall establish and maintain fully funded the Rent Reserve with respect to all of the real Property of the TIAA Subsidiaries subject to the TIAA Facilities and at each time that any real Property of the Borrower or any of its Subsidiaries becomes subject to financing provided by TIAA the Borrower shall cause the Rent Reserve to be increased by an amount determined in accordance with the definition of Rent Reserve.
(B) Clause (B) of Section 5.2(i) shall be amended and restated in its entirety as follows:
Rent Reserve. Lessee shall establish and maintain throughout the Term the Rent Reserve and shall have the authority to invest amounts deposited into the Rent Reserve in cash, cash equivalents and government securities. With the exception of interest earned on any such investments, all funds in the Rent Reserve shall be held in reserve for a period of ten (10) years from the date each such sum is funded into the Rent Reserve, except to the extent drawn upon by Lessor on an annual basis to pay accrued and unpaid Additional Rent.
Rent Reserve. (a) Upon the Effective Date, the parties agree to create a reserve account (the “Rent Reserve”) which Tenant hereby pledges to Landlord as further security for payment of Rent.
Rent Reserve a. Escrow Agent shall make monthly disbursements of the Escrow Funds up to the amount of the Rental Reserve for rental shortfalls attributable to Tenant during Rental Holdback Period on the terms set forth below:
i. To Pelham Purchaser, the amount for the time period set forth on Exhibit B [note- Exhibit B should list rental payment schedule], automatically on the 16th of each month, or, if Pelham Purchaser has received rent and additional rent from Tenant, Pelham Purchaser shall deliver written notice to Escrow Agent and Pelham Seller stating the amount of such payment, which such amount shall be disbursed to Pelham Seller (the “Rent Notice”). Should Pelham Seller deliver a written objection to Escrow Agent and Pelham Purchaser on or before the 15th day of a month, Escrow Agent shall not disburse the funds from the Rental Escrow Account until instructed to do so in writing by both Pelham Seller and Pelham Purchaser, or by court order.
Rent Reserve. (a) Borrowers shall deposit with Lender on the date hereof $61,775.10, representing the amount of future rent credits or abatements under existing Leases (the “Rent Concession Reserve Funds”). So long as no Event of Default has occurred and is continuing, Lender shall disburse amounts from the Rent Concession Reserve Funds as set forth on Schedule IV attached hereto.
Rent Reserve. 29 4.17 Further Assurances; Post Closing Deliveries........................... 29 4.18 Acquisitions and Ownership of Real Property........................... 32 4.19
Rent Reserve. (a) On July 31, 2001, Borrower shall deposited with Agent the sum of $1,500,000 in an interest bearing account, which account is pledged to Agent (the "Rent Reserve Account"). All interest on such account shall constitute income of the Borrower.
(b) On August 31, 2001 and September 28, 2001, Borrower shall make deposits into the Rent Reserve Account, in amounts equal to $1,200,000.
(c) At each time after the Effective Date that any real Property of the Borrower or any of its Subsidiaries becomes an Additional TIAA Property, the Borrower shall promptly (and in any event within two Business Days) cause the amount on deposit
Rent Reserve. (a) Upon the Effective Date, the parties agree to create a reserve account (the “Rent Reserve”) which Tenant hereby pledges to Landlord as further security for payment of Rent.
(i) The Rent Reserve account shall be at a bank selected by Landlord. Landlord shall, upon request, provide account statements for the Rent Reserve which shall be distributed to both Landlord and Tenant, and all interest earned on the Rent Reserve shall inure to the benefit of Tenant.
(ii) During each Lease Year, Landlord is authorized to draw down the Rent Reserve for the monthly Rent Payments due [during such Lease Year][during the months of ] (each a “Draw Down Month”).
(iii) On [January 31, February 28 and March 31] of each Lease Year, Tenant shall replenish the Rent Reserve by making a deposit on each such date in an amount sufficient to fund one-third (1/3) of that calendar year’s twelve (12) months of Rent (the “Rent Reserve Deposits”). Notwithstanding the foregoing, Tenant shall at all time maintain a Rent Reserve with Landlord of no less than months of Rent, and shall make any additional Rent Reserve Deposits necessary to at all times maintain such minimum Rent Reserve.
